Unions Try to Raise Minimum Wages Because

question 8

Multiple Choice

Unions try to raise minimum wages because

• A)they wish to encourage employment among the poor.
• B)they wish to help those on minimum wages.
• C)this will decrease the supply of labour in their industry.
• D)this will increase the demand for labour in their industry.
• E)none of the above.

Understand the effects of functional specialization on quality, change management, and inter-functional coordination.

Know about horizontal and vertical specialization and their implications for departmentalization and division of labor.

Comprehend the principles behind various organizational designs including simple design, adhocracy, and bureaucracy.

Recognize the influence of technology on organizational structure and design, including operations technology and information technology.

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Definitions:

Carrying Value

The book value of assets and liabilities as recorded in the financial statements, excluding any depreciation or amortization.

Par Value

The face value of a bond or stock as stated on the certificate or instrument, not necessarily reflecting its market value.

Maturity

Maturity refers to the date on which the principal or final payment of a debt, loan, or other financial instrument is due to be paid.

Annual Interest

Interest charged or earned over a period of one year on loans, savings, or investments.